Singapore: The World's Richest City

3/7/2013 12:43PM

When most people think of Singapore, an order-obsessed Asian version of Wall Street comes to mind. But lately, Singapore has become a haven for the ultra-rich. WSJ Senior Editor Jonathan Dahl joins Lunch Break. Photo: Darren Soh/Redux Pictures.

This transcript has been automatically generated and may not be 100% accurate.

... I ... and we're back to Des beest lunch break there is a nightclub in Singapore where equal fifteen thousand dollars will buy you a table and you can drop twenty six grand for a cocktail ... with a diamond in a mid endured the right is in Singapore which is nowhere in the Parisien that it's a Money magazine ... is where the world's ultra rich are parking ... their billions to explain how Singapore ... became episode of wealth is at the same money editor John Pendall ... dinky wish my friend every periodically Gregory resizing were excited to be talking with about the magazine itself in a moment of justice ... I and I was meeting Discover Sterne blown away ... how Singapore become this even for the ultra rich why are they their ... well though there's a concentration of wealth or pasta was moving to Asia ... below this place is art stable that Singapore ... is so obsessed with things turning eking even chew gum at the airport ... that the deal to rates they feel very safe and secure and there was no no CapRock teapot Dynamo lot of safety when not tax is this the sort of good place to go I was highly disappointed low tax haven but it's not like the people of the entities that Switzerland whatever it's more this is very safe darn good privacy laws ... and ... now this like all these great fun things for them to do their what's new lessee when I double named topic that has drawn some of the names of big names of people who fight you might slow Alzheimer's a former founder Facebook ... Ms there's a lot of my car to normal ... and what I said yes yes ... ambitious more millionaires per capita ... in that in that city than anywhere in the world ... and they've got great nightclubs to the tune down there this is this this is the place is this the sentences go and as for the fifty ... Ferrari's were having an having a grand time ... with it ... this may cause some problems with the Securities ... yes so that's what I am indebted Des to be money better ... I was toppled in what was talk about on the blink and you mention the Ferrari's what else can you see an easy is it affecting the retell culture in terms of the stores and the other types of clothing you see people wear on the streets there were times that of its headquarters there ... the system of opportunity to buy a well the staff of the ox ... on them to me in the Docklands a booming there ... so it's become just that a great place for them but ... that is causing palms because the gap between the have ... nots is growing dinner ... and is starting to bother the officials in Singapore ... who are trying to do something about this the circle of in a more about that because obviously when anything becomes too good and too hot too many people go there than the thing that made it so special the first place right ... it's chipped away at a little bit ... and how we seen that play out of the many incidents there that knew the officials are watching St we don't wanna have markets going forward ... well ... there is a real estate bust and boom going on and the feel of the most certainty of bond prices are so high here ... we think that you're referring to this is the ... reason for crashed there of a foreigner Chinese port of several people were killed ... the really upset Singapore is that this concept just doesn't happen at some point ... in fast and one and two hundred miles an hour or the sports cars and people started ... to become put the brakes on that ... before it becomes another Dubai they don't want to know what happened there ... and this my public talk about this mentally you can get a cocktail with ... either isn't tiny Navy's twenty six grand ... Fiat's fillet in its Dec gold flakes and has a dining inside it doesn't make sense to small and did a nice and cold ... it's that good example of what you know if you've got our money's logic and if ... I were seen more this and this is what this is one of a key stores and Dagestan money magazine which Davies now ... more about what we can expect out of it ... well the ideas that we think the wealth management is a topic that needs more coverage and ... ready to have a lot of wealth and are not much wealth ... knowing when tiny and folks are doing with that you can learn alot from untenable were focusing on alright shock and awe I did this instead won the best and in the whirling ingeniously intelligence and graceful